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There was a systemic failure of financial regulation: senior policymakers repeatedly enacted and implemented policies that destabilised the global financial system. They maintained these policies even as they learned of the consequences of their policies during the decade before the crisis. The...
Persistent link: https://www.econbiz.de/10013094089
Which commercial bank supervisory policies ease - or intensify - the degree to which bank corruption is an obstacle to … first empirical assessment of the impact of different bank supervisory policies on firms%u2019 financing obstacles. We find … that the traditional approach to bank supervision, which involves empowering official supervisory agencies to directly …
Persistent link: https://www.econbiz.de/10005088666
In this postmortem, I find that the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes of the financial system's demise. The evidence is inconsistent with the view that the collapse of the financial system was caused only by...
Persistent link: https://www.econbiz.de/10008624572
AbstractThe following sections are included:IntroductionBank Deregulation and Competition in Nonfinancial IndustriesBlacks’ Relative Wages and the Racial Bias IndexResultsPrerequisitesThe Impact of Deregulation on Blacks’ Relative WagesExtensionsConclusionsReferences
Persistent link: https://www.econbiz.de/10011206514
Persistent link: https://www.econbiz.de/10012737683
Analysis of a panel data set for 1976-1998 shows that on balance stock markets and banks positively influence economic growth - findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects.Beck and Levine investigate the impact of...
Persistent link: https://www.econbiz.de/10012786208
This paper examines the question of how the legal environment affects financial development, and then asks how this in turn is linked to long-run economic growth. Financial intermediaries are better developed in countries with legal and regulatory systems that (1) give a high priority to...
Persistent link: https://www.econbiz.de/10012789893
We evaluate the impact of the African slave trade between 1400 and 1900 on modern household finance. Exploiting cross-country and cross-ethnic group differences in the intensity with which people were enslaved and exported from Africa, we find that slave exports during the 1400-1900 period are...
Persistent link: https://www.econbiz.de/10012901136
economic shocks that relax a bank's dependence on external capital markets alter the cost-benefit calculations of bank managers …
Persistent link: https://www.econbiz.de/10012897744
Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms in high-trust countries obtain more trade credit and suffer smaller drops in profits and...
Persistent link: https://www.econbiz.de/10012936357